Consumer behaviour effect

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Consumer behaviour effect

  1. 1. Intro to Consumer Behavior Consumer behavior-- what is it? Applications Consumer Behavior and Strategy Elements of strategy Consumer Analysis Consumer behavior outcomesMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 1
  2. 2. One Definition Consumer behavior : the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 2
  3. 3. Applications of Consumer Behavior Marketing Strategy Regulatory (Public) Policy Social Marketing Personal Consumer SkillsMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 3
  4. 4. Orientations in the Study of Consumer Behavior Anthropology Economics History and geography Psychology SociologyMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 4
  5. 5. Anthropology The study of people within and across cultures Emphasis on cross- cultural differences Questioning of assumptions within own cultureMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 5
  6. 6. Economics Basic economic issues Supply and demand Rational decision making Perfect information Emphasis on predicting behavior Complications in real life Behavioral economics— e.g., “mental accounting”MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 6
  7. 7. History and Geography Origins of behavior, perspectives, and traditions Impact of geography on individuals Isolation Language development Climate Geographic determinismMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 7
  8. 8. Psychology Study of human thinking and behavior Some issues Personality Personal development Cognition (thinking), perception Attention and its limitations “Learning”—e.g.,MKTG 371 acquiredINTRO TO ONSUMER BEHAVIOR tastes Lars Perner, Instructor 8
  9. 9. Sociology Cultural and interpersonal influences on consumption—e.g., Fads, fashions Diffusion of innovation Popular cultureMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 9
  10. 10. Marketing Strategy and Consumer Behavior MARKET MARKET ANALYSIS SEGMENTATION MARKETING CONSUMER DECISION OUTCOMES STRATEGY PROCESSESMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 10
  11. 11. Market Analysis Components Consumers Firms Competitors Conditions (environment)MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 11
  12. 12. Market Segmentation (covered in more detail later) Product-related need sets Segments: customers with similar needs and responses Segment description Segment selectionMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 12
  13. 13. Elements in Marketing Strategy Product Communications Price Distribution ServiceMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 13
  14. 14. Outcomes Firm Society Product Economic position/perception Physical environment Sales Social welfare Customer satisfaction Individual Need satisfaction Injurious consumptionMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 14
  15. 15. The Nature of Consumer Behavior External Influences Internal Influences Self-Concept Situations Experiences and acquisitionsMKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 15
  16. 16. Why We Buy: Some Issues Questions academics relatively well: Whether, how, why? Questions academics answer less well: How much? Which effect is stronger? What if…?MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 16
  17. 17. Why We Buy Issues “Conversion” and “interception” rates The “Transition Zone” Thinking like a consumer who is in the shopping setting! A note on exam questions from the text: You need to have read the book to be able to answer! (The answers are not obvious.)MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 17

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